trending Market Intelligence /marketintelligence/en/news-insights/trending/Fr_QYDC0b1zWeCaD29Wl8A2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Reports: Fosun to cut stakes in Brazil's Guide Investimentos, Rio Bravo

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive

South State CenterState MOE Shows Even The Strong Need Scale To Thrive

Talking Bank Stocks, Playing The M&A Trade With Longtime Investor

Report: Kashkari Says Fed In Holding Pattern But Rate Cut Still Possible

Reports: Fosun to cut stakes in Brazil's Guide Investimentos, Rio Bravo

Fosun International Ltd. will either completely divest or reduce its stakes in two Brazilian companies, broker Guide Investimentos SA Corretora de Valores and asset manager Rio Bravo Investimentos Ltda., Reuters reported, citing a person with direct knowledge of the matter.

China-based Fosun is searching for a partner to avoid having to singlehandedly finance the Brazilian companies' expansion, the source said, adding that Fosun may sell its entire stakes in both firms depending on the offers it receives.

However, in a statement to the newswire, Fosun denied any plans to fully exit Guide or Rio Bravo, but said it is "looking for new investors to bolster its businesses in Brazil." Guide and Rio Bravo did not immediately reply to requests for comment from Reuters.

Anonymous sources told Brazilian newspaper Valor Econômico that Fosun has engaged Credit Suisse to help it divest the stakes and has started offering Guide Investimentos to prospective buyers including private equity funds. An initial round of nonbinding proposals was set for early January but was reportedly extended. According to one of Valor's sources, Guide Investimentos has not delivered the results that were expected by Fosun and is also dealing with stiff competition in Brazil.

The Chinese conglomerate, which is also reportedly considering a sale of its Germany-based insurance business, acquired a 69.14% stake in Guide Investimentos in 2018. It agreed to buy Rio Bravo in 2016.